Heard work by instrument that's shared between friends (5,4)

I believe the answer is:

peace pipe

I'm a little stuck... Click here to teach me more about this clue!

'shared between friends' is the definition.
I can't judge whether this defines the answer.

'heard work by instrument' is the wordplay.
'heard' shows a homophone (sound like).
'work' becomes 'piece' (eg a work of art is a piece).
'by instrument' becomes 'pipe' (pipe is a kind of instrument. I am not sure about the 'by' bit.).
'piece' sounds like 'peace'.
'peace'+'pipe'='PEACE-PIPE'

'that's' is the link.

Can you help me to learn more?

(Other definitions for peace pipe that I've seen before include "Item on reservation" , "North American ceremonial bowl with stem" , "Calumet, smoked by native Americans" , "American Indian token of goodwill" .)

I've seen this clue in The Times.

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